JPY Trading Outlook (29-07-2013)
CROSSES: AUD/JPY pulled back lower towards mid-range levels near 91.00 on the back of a stronger Yen across the board but further range consolidation 90.00/93.50 is favoured (see chart). AUD/NZD is still consolidating below 1.1500 but I favour some broad range trading roughly between 1.14/1.16 for the next few days. EUR/AUD has again failed to convincingly trade above its important pivot at 1.4400 and I favour a test lower here in coming weeks, though still staying in consolidation mode 1.39/1.45.
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